Prime Commercial Property in Port
8725 Lake Street Port Austin, MI 48467
For Sale
$379,900
Pending
High-visibility commercial property in downtown Port Austin, steps from Lake Huron.
Property Size3,500 SF
Lot Size0.12 Acres
Days on Market654
Property Features for 8725 Lake Street
General Information
Standard status
Pending
Size
3,500 SF
Lot size
0.12 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
2003
Listing Agency:
Real Broker, LLC.
(586) 453-7613
Listed By:
Maria Piccione · License #6501414242
(586) 453-7613
Source:
Exitrealty
Added: Oct 15, 2024
Changed: Jul 10
Last Checked: Jul 29 at 8:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker, LLC.
Investment Insights
Based on property information with market context.
This commercial property is located in downtown Port Austin, on Lake Street, near Lake Huron and the Port Austin Boat Harbor marina. The property features an open layout with a front area currently arranged with a service counter and dining space, plus a back area that includes a commercial kitchen. The layout is adaptable and suitable for a retail shop, studio, office, restaurant, cafe, entertainment venue or service-based business. The building includes central air, recessed lighting, storage, and an awning. The property is surrounded by shops, grocery stores, local businesses, and beaches. The location is near the Port Austin Farmer's Market and community events such as Porch Fest, Art in the Park, Carfest, and the Port Austin Winter Carnival. The property size is 3500 square feet.
Key Highlights
- Prime downtown location on Lake Street with high visibility and foot traffic.
- Steps from Lake Huron and the Port Austin Boat Harbor marina.
- Adaptable open layout suitable for various business types.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.4k | $14.40 |
| − Vacancy | −$9.0k | −$2.58 |
| EGI | $41.4k | $11.82 |
| − OpEx | −$12.4k | −$3.55 |
| NOI | $29.0k | $8.28 |
3,500 SF · lease $14.40/SF/yr · vacancy 17.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$413.8K
$362.1K – $482.8K
NOI $28,965 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$814.2K
$712.5K – $949.9K
NOI $56,996 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - High-visibility commercial property in downtown Port Austin, steps from Lake Huron.
Where is this storefront property located?
The property is located at 8725 Lake Street Port Austin, MI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Prime downtown location on Lake Street with high visibility and foot traffic.; Steps from Lake Huron and the Port Austin Boat Harbor marina.; Adaptable open layout suitable for various business types.
